#PVRINOX 1415 TGT1830 #SUNTV #ZEEL #DISHTV #TV18BRDCST #SAREGAMAPVRINOX 1415
TGT 1830
SL 1330
Return >30%
Risk <6%
RR > 5
Timeframe <8M
NSE:PVRINOX
Buy Recommended
Can hold for long term
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By Rachit Sethia
DEN
How to swing $DEN for maximum profitHi traders,
We have a trading idea to offer you in DEN stock.
The idea is an idea based on technical analysis only.
So like this, DEN stock has been converging for over a year and seems to be changing direction to the downside. The simple moving averages support us in the idea and give us confirmation that the trend is changing and we are likely to see a decline soon.
Currently, the moving averages are relatively far from the price action and we would like to see them continue to fall so we can get a shorter stop.
The idea is that there are a lot of stops from buyers from the last year sitting below the support level and once it is broken the orders will be activated and we will see a breakdown of the stock strongly downwards.
DEN NETWORK - Interesting to LearnThe stock has perfectly fit into the Bearish Shark Harmonic pattern and also the Parabolic Curve seems to have been achieved.
Now the question is what would be the level it would correct to ?
Based on the Parabolic Curve, It should take support between Base 4 and Base 3 however, if the Bearish Shark pattern lives up to its name then a stronger correction would be expected.
Lets wait and watch.
BREAKOUT IN DEN NETWORK ON MONTHLY CHARTBROKE OUT FROM FALLING WEDGE.
SEE CHART FOR DETAILS.
TARGET : 150+
STOP LOSS : 75
**These are my personal observations. Please trade at your own risk.**
